Peavey Closes MS Plants, Will Move Manufacturing Overseas
NEW YORK (AP) — Guitar and amplifier maker Peavey Electronics says it is closing its two manufacturing plants in Mississippi and moving some of the work overseas.
The maker of musical instruments and professional sound equipment will also auction off the equipment from the plants in Decatur and Meridian, Mississippi.
The company says it is responding to competition from lower-cost manufacturing outside the U.S. It did not immediately say how many people worked at the plants.
The company says it will keep its headquarters in Meridian and will continue to employ several hundred people in Mississippi.